State Bank of India and HyperVerge Partner to offer AI-powered Online Account Opening amid Covid

HyperVerge, the AI product startup, has partnered with India’s largest bank, State Bank of India (SBI), with one of its flagship products, the Video Banking solution, to provide convenient digital banking services to the customers of SBI.
Under the partnership, SBI customers can instantly open savings account using Video Banking process, during the pandemic, with minimal ID documents.
The HyperVerge’s Video Banking solution will help to achieve ten times improvement in the number of account openings per day per agent, over regular video KYC checks, because they will be assisted by AI engines with an accuracy of 99.5%, the highest in the industry.
The new solution offers a quick and completely paperless experience to customers as it performs pre-qualifier checks on customer details, schedules video calls with high throughput and performs AI-driven Liveness, OCR, and Facematch checks.

Points to Remember:

HyperVerge has partnered with which bank for its Video Banking solution? SBI
SBI has partnered with which company to onboard Video Banking solution? HyperVerge